Visteon Sees Unusually High Options Volume (VC)

Visteon Corp (NYSE:VC) saw unusually large options trading activity on Monday. Investors acquired 2,022 put options on the stock. This is an increase of approximately 1,365% compared to the average daily volume of 138 put options.

Shares of Visteon stock opened at $76.73 on Wednesday. Visteon has a 52-week low of $67.27 and a 52-week high of $140.64.

Visteon (NYSE:VC) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $727.48 million.

Several research firms have recently commented on VC. Barclays reissued a “hold” rating and issued a $104.00 price objective on shares of Visteon in a research note on Sunday, July 29th. Guggenheim set a $140.00 price objective on shares of Visteon and gave the company a “buy” rating in a research note on Friday, July 27th. Citigroup lowered their price objective on shares of Visteon from $126.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Cowen reissued a “buy” rating and issued a $150.00 price objective on shares of Visteon in a research note on Friday, July 27th. Finally, Longbow Research set a $145.00 price objective on shares of Visteon and gave the company a “buy” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $132.35.

In related news, Director Robert Manzo bought 1,000 shares of the stock in a transaction on Monday, October 29th. The stock was bought at an average price of $77.37 per share, with a total value of $77,370.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $154,740. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry James Wilson bought 5,000 shares of the stock in a transaction on Wednesday, October 31st. The shares were bought at an average cost of $76.95 per share, with a total value of $384,750.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at $153,900. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,000 shares of company stock valued at $540,130. 0.19% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of VC. Allianz Asset Management GmbH lifted its stake in Visteon by 2.1% in the first quarter. Allianz Asset Management GmbH now owns 44,660 shares of the auto parts company’s stock worth $4,924,000 after acquiring an additional 939 shares during the last quarter. Bank of Montreal Can acquired a new stake in Visteon during the second quarter worth approximately $2,640,000. James Investment Research Inc. acquired a new stake in Visteon during the second quarter worth approximately $147,000. Hartford Investment Management Co. acquired a new stake in Visteon during the second quarter worth approximately $246,000. Finally, Sumitomo Life Insurance Co. acquired a new stake in Visteon during the second quarter worth approximately $1,789,000.

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About Visteon

Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.

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